EdenTree Investment has made a double senior promotion within its distribution team as part of plans to expand geographical reach.
Head of wholesale and financial institutions distribution Adrian Judge assumes the new role of head of international distribution.
In this role, he will oversee the firm’s profile and client base expansion into the Channel Islands, Dublin and, ultimately Europe, while building on existing wholesale relationships.
In his place, regional sales director James Tomlinson has been promoted to oversee wholesale distribution in the UK.
“Many of our clients have expressed to us their desire to have funds available beyond the UK,” said CEO Andy Clark. “We, therefore, believe the opportunity to broaden our geographical footprint is now here.”
EdenTree is the latest UK asset management firm implementing distribution changes to better target the growing European market. In December, Allspring Global Investments appointed Catherine McLaughlin to oversee institutional sales for Ireland. The $463 billion firm had poached her from Allianz Global Investors, and followed another senior distribution hire from the firm with Christian Pachtner joining in August to oversee German-speaking markets.
Despite the optimism shown by firms, the European asset management market has recently proven volatile for distribution strategies. In December, the European Fund and Asset Management Association (Efama) reported that Ucits and alternative investment funds on the continent had recorded their worst outflows since 2008.
In the third quarter, around €137 billion was redeemed by investors.
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